Enhancing risk management: benefits of a new or enhanced first line risk and control function

Event information

With UK regulators focusing on firms strengthening their internal control frameworks, many firms are assessing the business case for a new or enhanced first line risk and control function.

What is commonly referred to as ‘line 1.5 or 1b’ role can deliver tangible benefits, including:

• More effective use of firm-wide resources to manage risk and internal controls, including a more focussed and independent second line
• More consistent and higher quality risk and control self-assessments, including risk events management
• Embedding accountability and ownership where it is needed.

Key benefits of attending this webinar

• The pros and cons of establishing or enhancing a Line 1.5
• An overview of what a good Line 1.5 looks like
• The factors needed to ensure the Line 1.5 will deliver value over the longer term
• How an effective Line 1.5 can impact the work of the second line and internal audit.

About the speakers

Abigail Harper Abigail Harper has experience leading and setting up global Risk Management and Internal Audit functions across private, public and VC backed organisations, specialising in the Retail and Hospitality sectors. Her experience encompasses global financial, operational, strategic, compliance, and IT audits. Abigail is CIA qualified and is an ACA chartered accountant; and represents the Retail and Hospitality sectors on the ICAEW Internal Audit panel.

Michael Haddon, Principal Financial Services Risk Advisory Team, BDO

CPD hours

ICAEW's revised Continuing Professional Development (CPD) Regulations bring in new CPD requirements. This includes a minimum number of hours and an ethics requirement. Attending this webinar could contribute up to 1 hour(s) of verifiable CPD, providing you can demonstrate that the content is relevant to your role.

A copy of the webinar booking confirmation email is accepted as evidence of verifiable CPD. You will need to save the email as a JPEG or PDF before uploading it to your record. Click here to use ICAEW’s self-assessment tool to help you work out how much CPD you will need to fulfil each year.

Costs

ICAEW members and non-members are welcome to join. This event is organised by the Internal Audit Community. Please click here to join online.